Nope, this is elliott wave theory guys, the price is gonna hit $30, then $100. Bitcoin is undervalued, now that people understand it, they will hold tight, the market matured significantly since last summer's high of $31.90. Perhaps, we could see $100 before the end of the year

Nope, this is elliott wave theory guys, the price is gonna hit $30, then $100. Bitcoin is undervalued, now that people understand it, they will hold tight, the market matured significantly since last summer's high of $31.90. Perhaps, we could see $100 before the end of the year

I agree that both the market and the infrastructure has significantly improved, but I have a hard time accepting that the improvement is worth this much.

This seems like one person/group who put like a million USD on gox. They will succeed at creating a bubble if they keep this up though. Noone wants to sell low, I think most have just been doing that to improve their position.

Let us all remember the game plan 12$ is the "top", 8$ is the bottom, and then sky is the fucking limit!

That's where it's at. if this guy is chasing he will run it all the way to $11.99885 then who knows where the see-saw will balance it out at. I'm guessing 9ish

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GAIt is being worked on by smart people. -DamienBlack

I can't speak for Proudhon, but this kind of momentum is making me more bearish.

It's too fast, for too little of a reason. It smells like bubble.

This looks like a fairly classic base and break pattern, not a bubble. A move like this has been building in the chart for months. If we get much above 10 without pulling back and basing for the next leg up, then I might get a little worried that it is overdone. But otherwise it is pretty healthy bullish action.

Nope, this is elliott wave theory guys, the price is gonna hit $30, then $100. Bitcoin is undervalued, now that people understand it, they will hold tight, the market matured significantly since last summer's high of $31.90. Perhaps, we could see $100 before the end of the year

I agree that both the market and the infrastructure has significantly improved, but I have a hard time accepting that the improvement is worth this much.

I'm honestly surprised that we haven't really tested the teens yet. From my perspectives, the high last year was obviously a bubble due to hype, but there is no hype here. In fact, quite the opposite, the bitcoin economy has grown significantly; and with Silk Road still marching along as if it's untouchable, the reputation that bitcoin can do what is claimed is starting to really talk hold. Just last week I had the first person to ever ask me if I had heard about "this Bitcoin thing" without some obvious segway to the topic. The current userbase should be able to sustain $15 at least, IMHO. The last I looked, it appeared as if Silk Road alone was doing $2 million per month in gross sales, and the 24 volume record from MtGox alone is roughly 20% of the entire bitcoin base. Some news is brewing here with this spike & pullback, I just don't know what it is yet.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."